Khushhali Microfinance Bank pre-tax profit soared by 40% in 2018

1 min

Khushhali Microfinance Bank Limited (KMBL) has shown a growth in the financial records for the year ended December 31, 2018.

The bank announced a pre-tax profit of PKR 3.5 billion which is 40% up against what bank witnessed a year before. Its pre-tax profit for the year 2017 was recorded as PKR 2.5 billion.

This year, it is one of the highest reported in the industry. The bank attributes this rise in its balance sheet statistics to a continued increase in KMBL’s lending portfolio which has increased by 34% from the last year. Besides, its portfolio quality indicators also shown stability.

Khushhali Microfinance Bank is present at 197 locations across the country, and it is increasing its footprint both in rural and urban areas. The bank has maintained a leading position in the microfinance sector with the highest number of clients, loan portfolio and deposits among the microfinance banks.

Agriculture loans top its lending portfolio whereas it deposit book of over PKR 56 billion also appreciated by 22% this year in comparison to 2017. The bank also proposed a dividend of PKR 1.50 per share.

The bank had a Tier II capital injection of PKR 1 billion, and it continues to span wings in digital financial services.